6 Sep 2011

Energy-efficient light-bulb maker will list soon

7:00 am on 6 September 2011

The energy-efficient light-bulb maker Energy Mad plans to list on the stock exchange next month.

The Christchurch-based firm hopes to raise $10 million from the listing to fund further expansion overseas.

It made $815,000 in 2011 and expects profits of $2.2 million in 2012 and $4 million in 2013.

The offer will value the company at $37.7 million, and its founders, Tom Mackenzie and Chris Mardon, will retain 27% stakes once it is floated.

This will be only the third float on the NZX this year: the new financial institution Heartland listed in January and Broken Hill Prospecting listed in February.

Shares in Energy Mad are expected to begin trading on the NZX on 3 October.